http://www.youtube.com/watch?v=qty99AqVXYY NDTV Profit - English http://www.youtube.com/watch?v=iHC583f8UJg&feature=related CNBC Awaz Hindi http://www.youtube.com/watch?v=KHeNR27mCmY&feature=related NDTV - Hindi Skip to bbc.co.

.uk search Accessibility Help

Video27 October 2011 Last updated at 11:39 GMT

Cash machines for gold and silver launched in India

The cashpoint is designed to meet Indians' unquenchable demand for gold, silver and diamonds

An Indian company has launched what it says is the world's first cash machine to dispense diamonds as well as gold and silver coins. Backers say the automated teller machines (ATMs) will be a "one-stop shop for buying medallions, coins and jewellery".They hope to cash in on the insatiable demand of Indians for jewels and precious metals. In all, 75 ATMs are planned for retail centres, temples and airports."This machine... will revolutionise the processes by which precious metals and jewellery are bought," said Sanjeev Agarwal, the chief executive of the Gitanjali group. "It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days."Mr Agarwal says that the first such machine is already operating in central Mumbai (Bombay) and had served "a substantial number of customers".

He said that all the ATMs - which are 2.1m (7ft) tall - would be placed in secure locations. The machine offers nearly 40 products, ranging from 10-gram gold coins etched with an image of the Hindu goddess of wealth to diamond-studded pendants. Prices range from $20 (12) to $610 (380). India is the world's largest consumer of gold, according to the World Gold Council, with more than 900 tonnes of the metal changing hands last year. The Gitanjali group claims to be the world's biggest integrated manufacturer of branded jewellery, from sourcing diamonds and other precious stones to retailing products through a network of over 3,600 points of sale.

The Wall Street Journal

OCTOBER 27, 2011, 7:05 AM HKT

New Mumbai ATM Dispenses Diamonds and Gold

By Amrit Dhillon

Gitanjali

Gitanjali CEO Sanjeev Agarwal, left, and Bollywood actress Raima Sen unveiled the new ATM in Mumbai.

Forgotten that critical birthday or anniversary gift? Salvation awaits in India with a new, diamond-dispensing ATM. The aim is to satisfy impulsive needs, says Sanjeev Agarwal, chief executive of Gitanjali, the jewelry retailer that opened the ATM in Mumbais Phoenix Mill shopping center. If youre at the airport or at a temple and want to buy a gift or a memento of the temple, you can do it there and then, he says. Or if its Valentines Day, and you need something, the ATM will do the job. In addition to diamonds, patrons can buy gold and silver coins through the machine as well. Mr. Agarwal kept an eye on the ATM Wednesday to see who it attracted, saying the patrons included a thirtysomething man who bought a gold coin, two young women who

bought diamond pendants and a middle-aged man who grumbled, after his wife bought a diamond, that shopping is going to be dangerous with this damn machine around. Another couple I saw ended up fighting, Mr. Agarwal adds. She wanted the boyfriend to buy her a diamond. He told her it would wipe out his account. Last I saw of them, he was running away from the ATM. Gitanjalis gold and diamonds come with certifications verifying their authenticity. The products range in price from $20 to $700. Mr. Agarwal says the company plans to open 75 such ATMs throughout India wherever people congregate in large numbers.
http://blogs.wsj.com/scene/2011/10/27/new-mumbai-atm-dispenses-diamonds-andgold/

Raima Sen, Sanjeev Agarwal launch gold ATM

TNN | Oct 25, 2011, 12.00AM IST

Raima Sen and Sanjeev Agarwal

It's a revolution in technology and who else, but the Gitanjali Group, the world's largest integrated branded jewellery manufacturer-retailer is behind it. We're all now familiar about how the ATM has become a full-fledged bank branch. So here's a less well known, but even more marvellous innovation to the cash dispensing technology that we all now take so much for granted. It's an ATM machine through which you can buy gold and diamonds, on the spot and, once the network is well established, virtually anywhere! This is a path breaking step in the world of jewellery retail which is a one-stop shop for buying medallions, gold and silver coins jewellery. High on convenience, this new retailing format will be ideally suited for last minute purchases on auspicious occasions and for gifting, providing

instant gratification to the purchaser. Doing the honours of unveiling the first of these revolutionary new machines at Phoenix Mills just before the auspicious occasion of Dhanteras, were Raima Sen and Sanjeev Agarwal, CEO, Gitanjali Exports.

Gitanjali launches Gold and Diamond ATM

Mumbai, Oct 23 : The Gitanjali Group on Saturday launched of a Gold and Diamond ATM machine, which is a one stop shop for buying medallions, coins, jewellery etc. The first ATM was inaugurated at Phoenix High Street in Lower Parel, Mumbai by Bollywood star Raima Sen and Sanjeev Agarwal, CEO, Gitanjali Export Corporation Ltd. Designed like an ATM, the machine however will dispense gold and silver bars coins, pendants with religious motifs; as well as a range of diamond studded jewellery, making it the first of its kind anywhere in the world. High on convenience, this new retailing format will be ideally suited for last minute purchases on auspicious occasions and for gifting, providing instant gratification to the purchaser. The ATM will give the consumer a mix of upto 36 options in different sizes, price points and designs to choose from across these categories. This may include coins in varying grammage, or pendants that have religious motifs, which are suitable for auspicious occasions, as well as heart shaped pendants and even diamond studded pendants for other gifting occasions. The prices will range from Rs 1,000 to Rs 30,000. The exact combination available at each ATM will be flexible and vary across locations. Customers at the ATM will choose their product from options displayed on a touch screen, and can then make payments using either a credit / debit card or by depositing cash. Delivery will be immediate. Sanjeev Agarwal, CEO, Gitanjali Export Corporation Ltd., said: The machine is a first of its kind anywhere in the world and will further revolutionise the processes by which precious metals and jewellery is bought. "It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days. But it also offers choices for occasions like Valentines Day, or to a husband who forgot an anniversary or his wifes birthday!

In the coming months, Gitanjali plans to expand the network of these ATMs in places with high consumer footfalls such as premium malls, airports, temples etc., to provide visitors with a range of last minute purchase choices for gifting and other needs. The ATM is a part of the larger Go for Gold umbrella branding created by Gitanjali to promote the purchase of gold whether in the form of jewellery or coins/bars and focus attention on the companys initiatives in the gold segment. Gitanjali Group is the worlds largest integrated branded diamond jewellery manufacturer.
--IBNS

http://www.samachar.com/Gitanjali-launches-Gold-and-Diamond-ATMlkxiK5bcfcj.html? utm_source=new_kerala&utm_medium=web&utm_campaign=publication_page

Now, a machine to dispense jewellery

Published: Monday, Oct 24, 2011, 11:15 IST By Shailaja Sharma | Place: Mumbai | Agency: DNA

Cash dispensing ATMs are routine. Now, here comes a vending machine that will cough out gold and diamonds. Branded jewellery manufacturer and retailer Gitanjali Group on Saturday launched a jewellery dispensing machine in Mumbais High Street Phoenix that works just like an ATM, offering instant gold and silver coins as well as bars, pendants with religious motifs, and diamond studded jewellery. Customers can buy products starting from Rs1,000 and up to Rs30,000 using cash, debit cards and credit cards. The machine will give the consumers a mix of up to 36 options in different sizes, price points and designs to choose from across these categories, which will be displayed on a touch screen. Though the concept is a first in India, it is being tried by various companies in country like Germany, the UK, Dubai and recently in China and the US. Will it work? Gitanjali thinks it can manage sales of nearly Rs450-500 crore in next three years when it has

75 such machines functioning in major cities, Sanjeev Agarwal, chief executive officer, Gitanjali Exports Corporation Ltd, said. We can do a turnover of Rs6 crore per machine per year. It is not an experiment but something we are gung-ho about. The company plans to start these machines at high consumer footfall places like premium malls, airports, and shrines. Agarwal said more players could follow suit to this model. The company is designing and building the machines in-house. The Indian jewellery market is reaching Rs235,000 crore in size this year. It is a huge market and the opportunity is huge, he said.

French Radio RFI

http://www.rfi.fr/emission/20111117-inde-le-premier-distributeur-automatique-mondebijoux-or-diamants-bombay

THURSDAY, NOVEMBER 17, 2011

India: the first vending machine in the world of jewelry in gold and diamonds in Bombay
Listen (2:37) Add to my playlist

Download Embed

The first vending machine jewelry in gold and diamonds in the world was opened in the mall Phoenix Mills in Mumbai by the company Gitanjali, during the Diwali conducive to purchases of gold and jewels.
AFP / Indranil MUKHERJEE

By Sebastian Stuffed

It is a rectangular machine 2 meters high and 1 meter wide, similar in almost every respect to a normal distribution of tickets. However, it has a special feature: it does not distribute tickets, but gold jewelry and diamond. Similar machines, but only for gold and no diamonds have already emerged in Dubai for example. This is the first machine of its kind in the world that has just been inaugurated in the economic capital of India, Bombay.